The $400-billion achievement highlights Vodacom's towards mobile financial services, a rapidly growing area for telecom companies in Africa. This growth is largely due to the company's expansion in its core markets and its 35-percent stake in Kenya's Safaricom.
Safaricom alone added about $320 billion in transaction volume, thanks to the success of its M-Pesa platform, which shows how telecom operators are branching out into financial services.
However, Vodacom's influence in financial services is still more prominent in Southern and Eastern Africa. In West Africa, Vodacom lags behind competitors like MTN, Orange, Airtel Africa, and Moov Africa.
MTN, for example, reported $285.5 billion in transactions during the same period, with much of this coming from Nigeria and Cote d'Ivoire. Airtel Africa saw $115.5 billion in transactions, while Orange, despite not providing specific figures for Senegal and Cote d'Ivoire, reported $144.7 billion across its entire network.
